Bitmine Immersion Technologies, Inc. (BMNR) surged 14.88% on Friday, closing at $31.19 per share amid higher Ethereum prices. The company seeks shareholder approval to raise its authorized capital stock to 50 billion from 500 million. Ethereum prices were up 4.09% at $3,123.16. Chairman Thomas Lee believes in the future of Ethereum and the benefits of a capital stock hike for the company. Shareholders have until January 14 to vote on the matter before the annual meeting on January 15. Major industry leaders, such as BlackRock’s CEO Larry Fink, support the tokenization trend on Ethereum. While BMNR shows potential, other AI stocks may offer higher returns with less downside risk. Check out our report on the best short-term AI stock for more information.

Read more at Yahoo Finance: Bitmine (BMNR) Soars 15%, Mimics ETH Jump